Nimu Copper Oxide Recovery
December 16 2008 - 2:15AM
UK Regulatory
Central China Goldfields plc
(`GGG' or `the Company')
COPPER OXIDE RECOVERY
AT GANGJIANG AREA
LONDON - 16 December 2008 - Central China Goldfields plc (AIM: GGG) and its
partner the Sichuan Bureau of Metallurgy and Geological Exploration are pleased
to report copper oxide recovery results at the Gangjiang exploration licence
area, Nimu Copper-Molybdenum Project ("Nimu").
Highlights:
* Following the identification of significant copper oxides at both the
Guqing and Gelong-East Nading prospects, the Company has now conducted
analyses of the recoverable oxide copper (Cu) on a selection of drill holes
and trenches to determine the amount of acid soluble leachable copper.
* The aim of these tests is to establish the potential for applying off the
shelf low-cost solvent extraction/electrowinning (SX/EW) technologies.
These technologies have the potential to deliver earlier cashflows than is
usually the case with copper sulphides.
* At the Guqing prospect, the currently identified copper oxide zone measures
circa 400 metres long by 60 metres wide and up to 55 metres thick, starting
from the surface, and is open to the north.
Notable intercepts are:
* Hole GJ14 - 0.72% soluble Cu over 14.3 metres and 0.90% soluble Cu over 6
metres
* Hole GJ13 - 0.51% soluble Cu over 22 metres and 0.48% soluble Cu over 12.5
metres
* Trench GJT01 - 0.55% soluble Cu over 46 metres and 0.41% soluble Cu over 12
metres
* Trench GJT02 - 0.62% soluble Cu over 34.5 metres
* Trench GJT03 - 0.54% soluble Cu over 12 metres and 0.49% soluble Cu over 12
metres.
* At the Gelong-East Nading prospect, the current identified copper oxide
zone measures circa 250 metres by 250 metres and is up to 32 to 46 metres
thick and is open to the north, east and southeast.
Notable intercepts are:
* Hole GJ19 - 0.91% soluble Cu over 7.2 metres
* Hole GJ21 - 0.53% soluble Cu over 16 metres and 0.69% soluble Cu over 3.3
metres.
* All of the copper oxide zones also contain substantial amounts of
molybdenum.
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:
"During the 2008 drill season we identified two large distinct areas of copper
oxide in the Gangjiang Licence area. Both these areas remain open but
particularly the northern Gelong-East Nading prospect, which is open on
multiple sides.
The acid soluble copper analyses testing show that above 60% of the copper
content in the oxide zone is soluble. In places, this rises to 97% of the
copper content and on average approximately 80% of the copper content is
soluble and easily recovered.
These results therefore further indicate the potential for an initial low cost
SX/EW process to be used to recover the surface copper oxides ahead of the much
larger copper sulphide bodies at Gangjiang."
COPPER OXIDE ASSAY RESULTS:
Besides hypogene sulphide copper-molybdenum mineralisation, copper oxide zones
have been delineated in both Guqing and Gelong-East Nading prospects at the
Gangjiang exploration licence area. To confirm possibility for the low-cost
solvent extraction/electrowinning (SX/EW) copper recovery process, samples
within the Cu oxide zone were analysed for soluble copper using the sulphuric
acid digest and atomic absorption spectrometry (AAS) method.
Two holes in the Guqing prospect intersected a substantial thickness of copper
oxides at the surface (Table 1). Hole GJ14, drilled to the east, intersected
62.3 metres of 0.44% soluble Cu from 1.7 metre down hole including 0.72%
soluble Cu over 14.3 metres and 0.90% over 6 metres. Hole GJ13 was collared in
the same site as hole GJ14 but drilled in the opposite direction to the west.
It intersected 62.5 metres of 0.38% soluble Cu including 0.48% soluble Cu over
12.5 metres and 0.51% soluble Cu over 22 metres. Trenches GJT03, GJT01 and
GJT02, located at holes GJ13 and GJ14 and up to 400 metres to the southwest
also returned appreciable copper in the oxide zone (Table 2). The best
intercepts are 0.55% soluble Cu over 46 metres at trench GJT01, 0.62% soluble
Cu over 34.50 metres at trench GJT02 and 0.54% soluble Cu over 12 metres at
trench GJT03. The copper oxide zone at Guqing is approximately 400 by 60 metres
in dimension and is still open to the north. The thickness at GJ13-GJ14 site is
about 55 metres starting at the surface.
Table 1. Drill intercepts in copper oxide zones at Guqing & Gelong-East Nading
prospects.
Prospect Hole From To Width % Total % Soluble % Mo % Cu-E
No. (m) (m) (m) Cu Cu q
Guqing GJ13 1.50 64.00 62.50 0.59 0.38 0.014 0.72
incl. 3.50 16.00 12.50 0.53 0.48 0.011 0.63
incl. 26.00 48.00 22.00 0.80 0.51 0.018 0.96
GJ14 1.70 64.00 62.30 0.53 0.44 0.027 0.77
incl. 1.70 16.00 14.30 0.85 0.72 0.021 1.03
incl. 50.00 56.00 6.00 1.03 0.90 0.008 1.10
Gelong-East GJ19 16.30 54.00 37.70 0.39 0.36 0.034 0.70
Nading
incl. 30.60 37.80 7.20 1.01 0.91 0.034 1.31
GJ21 21.50 75.20 53.70 0.38 0.36 0.011 0.47
incl. 38.00 54.00 16.00 0.58 0.53 0.012 0.69
GJ21 72.00 75.20 3.20 0.71 0.69 0.009 0.79
Table 2. Trench intercepts in the Guqing copper oxide zone
Trench No. From (m) To (m) Width (m) % Total Cu % Soluble Cu % Mo % Cu-Eq
GJT01 0.00 46.00 46.00 0.74 0.55 0.020 0.92
GJT01 64.00 76.00 12.00 0.60 0.41 0.024 0.82
GJT02 2.00 36.50 34.50 0.69 0.62 0.028 0.94
GJT02 52.50 66.60 14.10 0.39 0.30 0.041 0.76
GJT02 76.60 87.90 11.30 0.42 0.30 0.001 0.43
GJT03 0.00 12.00 12.00 0.65 0.54 0.018 0.81
GJT03 36.70 48.70 12.00 0.68 0.49 0.014 0.81
GJT03 82.00 106.00 24.00 0.41 0.33 0.008 0.48
Note: % CuEquivalent (% Cu Eq) = % Cu + 9 x % Mo assuming metallurgical
recovery for both Cu and Mo is 100%
At Gelong-East Nading, two holes drilled to the east along one drill fence
intersected thick section of copper oxide (Table 1). Hole GJ19 intersected 37
metres of 0.36% soluble Cu including 0.91% soluble Cu over 7.2 metres. While
hole GJ21, located 200 metres east of hole GJ19, intersected 53.7 metres of
0.36% soluble Cu including 0.53% soluble Cu over 16 metres and 0.69% soluble Cu
over 3.2 metres. The copper oxide zone at the Gelong-East Nading is
approximately 250 by 250 metres in dimension and is open to the north, east and
southeast. It is about 32 to 46 metres thick and is about 14 to 18 metres below
the surface.
SAMPLING & ANALYTICAL DETAILS:
The drill core samples (PQ and HQ core diametre sizes) and trench channel
samples were processed and analysed by Intertek Testing Service Ltd. Shanghai,
China. Sample preparation was done by their Kunming branch office while
chemical analysis was done by their Beijing office. The pulp samples were
digested in hydrochloric/perchloric acids for total copper while sulphuric acid
was used for soluble copper. Both were analysed by atomic absorption
spectrometry (AAS). Routine international-standard QA/QC procedures were used
by Intertek. The detection limit for total copper is 2 parts per million (ppm),
while for soluble copper, it is 10 ppm.
CHANGE OF DIRECTORS
The Company also announces that John Merfyn Roberts has tendered his
resignation as a director of the company with effect from the 30th December
2008.
Merfyn was recently appointed as a director of Agnico-Eagle Mines Limited, a
$4.5bn market capitalised Canadian company and due to time constraints has
informed the directors that he wishes to retire from the board of Central China
Goldfields plc as of the 30th December 2008.
The Board would like to thank Merfyn for all his valuable input since the
inception of the Company and looks forward to his continuing support.
Technical information in the Company news releases has been reviewed and
approved by Ciceron "Jun" Angeles (MSc. FAusIMM, CPGeo) the Company's Vice
President for Exploration. He is qualified as a Competent Person under the Code
for the Reporting Mineral Exploration Results, Mineral Resources and Mineral
Reserves, 2004 ("The Reporting Code") prepared by the Australasian Institute of
Mining and Metallurgy and the Australian Institute of Geoscientists.
For further information, please contact:
Central China Goldfields plc Hanson Westhouse Limited
Dr. Jeffrey Malaihollo Bill Staple / Martin Davison
Tel: 020 7621 0200 Tel: 020 7601 6100
Email: info@ccgoldfields.com
www.ccgoldfields.com
END
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